Monetary Authority of Singapore

In the wake of a recent increase in the number of initial coin (or token) offerings ("ICOs") in Singapore as a means of raising funds, as well as announcements from other concerned regulators, including in the United States,...more

Sometimes it’s easy to criticize the regulators we deal with - for example, when a particular rule or course of action makes things more difficult or complicated and the benefit is not necessarily apparent. It can cause us to...more

FinTech Regulation -
In our financial services updates at the beginning of the year (see here), we outlined a few regulatory pointers for FinTech coming out of a speech by the Chair of the Financial Stability Board (FSB)....more

In a press release issued on Tuesday, August 1, the Monetary Authority of Singapore (“MAS”) provided its most direct guidance yet on how it intends to treat “token offerings.” For those looking for concrete rules,...more

Foreign Companies May Restructure under the New Singapore Insolvency Provision -
The insolvency provisions of the Companies (Amendment) Act 2017 came into force on 23 May 2017. They set up a new restructuring framework...more

The Aircraft Leasing Scheme in Singapore is to be extended for another five years with refinements to encourage the growth of the aircraft leasing sector.
On 20 February 2017, the Minister of Finance, Mr. Heng Swee Keat,...more

MAS Consults on Operationalising the Changes to the Securities and Futures Act -
The MAS has suggested that an entity that operates a facility to match trades in respect of products that are not exchange traded...more

According to the original timetable, the first implementation date in various G20 countries for uncleared over-the-counter ("OTC") derivative variation margin requirements was 1 September 2016 for the largest market...more

The Monetary Authority of Singapore (the MAS) had on 24 April 2017 concluded its public consultation with various stakeholders on the Singapore Variable Capital Company (S-VACC) concept. The aim of the S-VACC framework is to...more

Venture Capital Funds to Face Simpler Regulatory Framework -
The MAS has proposed a new regulatory regime for managers of venture capital funds. The changes are intended to support and promote financing for enterprise...more

Regional CEO message -
Happy New Year and welcome to the first issue of Dentons Rodyk Reporter 2017.
Let me share our key developments in 2016 and tell you what to expect from us in 2017.
Please see full...more

MAS Amends the Requirements for Related Party Transactions for Banks -
On 21 November 2016, the MAS issued an amended Notice 643 to Banks on Transactions with Related Parties. It will take effect in two years, on 18...more

Enrichment is the theme for today’s post as it is personal and illegal enrichment which seems to be the continuing message from the 1MDB scandal involving the disgraced Malaysian sovereign wealth fund. In an article in the...more

Companies Act to Allow Re-domiciliation Into Singapore -
On 26 October 2016, the MOF and the ACRA proposed to amend the Companies Act to allow for inward re-domiciliation of companies. This will allow a foreign company...more

Guidelines on entering the Sandbox -
On 16 November 2016 the Monetary Authority of Singapore (MAS) released its “regulatory sandbox” (Sandbox) guidelines for FinTech experiments to be conducted in a controlled...more

On 19 September 2016, the Monetary Authority of Singapore (MAS) amended its FAQs on the Licensing and Registration of Fund Management Companies.
The key changes are as follows: -
A licenced Fund Management Company...more

The fallout from the scandal surrounding 1MDB and the Singapore-based banks that facilitated the flow of funds to and from those connected with the Malaysia-backed sovereign fund shows no signs of abating, as the recent...more

While the monetary authorities in Singapore insist that participation in a tax amnesty program would not automatically trigger a criminal investigation, they could still use STRs filed in connection with tax amnesty to flag...more

Institutions will need to meet deadlines to conduct a self-assessment of existing outsourcing arrangements, rectify identified deficiencies, and put in place measures to mitigate interim risks where a deficiency is...more

Singapore's Personal Data Protection Commission (PDPC) is stepping up its efforts to enforce the Personal Data Protection Act 2012 (PDPA). Following the release of its first nine enforcement decisions in April this year, the...more

FCM Agrees to Pay US $800,000 Fine to CFTC Because of US $1.1 Million in Erroneous Customer Exchange Fees Charges: Barclays Capital, Inc. agreed to pay a fine of US $800,000 to the Commodity Futures Trading Commission to...more

The Monetary Authority of Singapore (MAS) has published its new and replacement Guidelines on Outsourcing on 27 July 2016. The Guidelines are intended to provide comprehensive guidance over the risk management practices that...more

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